Abstract
This study aims to explain the Indonesian capital market reaction to the announcement of the election vote results and the inauguration of the United States President. The population in this study are companies listed in the index LQ45 Indonesia Stock Exchange period August 2016. Sampling method in this study is nonprobability sampling and total sample are 45 companies. This study uses non-participant observation technique to collect data and event study method with paired t-test analysis techniques to test the significance level of abnormal return. This study finds that (1) there is difference in abnormal return before and after the announcement of the election vote results and (2) there is difference in abnormal return before and after the inauguration of the United States President. The findings indicate that there is market reaction around the announcement of the election vote results and the inauguration of the United States President.
Highlights
This study aims to explain the Indonesian capital market reaction to the announcement of the election vote results and the inauguration of the United States President
The population in this study are companies listed in the index LQ45 Indonesia Stock Exchange period August 2016
This study finds that (1) there is difference in abnormal return before and after the announcement of the election vote results and (2) there is difference in abnormal return before and after the inauguration of the United States President
Summary
Tujuan penelitian ini adalah untuk menjelaskan reaksi pasar modal Indonesia terhadap peristiwa pengumuman hasil penghitungan suara pemilihan umum dan pelantikan Presiden Amerika Serikat. Penelitian ini menggunakan perusahaan yang terdaftar di indeks LQ45 Bursa Efek Indonesia periode Agustus 2016 sebagai populasi dan metode nonprobability sampling sebagai metode penentuan sampel sehingga diperoleh sebanyak 45 perusahaan. Pengumpulan data dilakukan dengan teknik observasi non partisipan. Pengujian dilakukan dengan pendekatan studi peristiwa dan teknik analisis yang digunakan untuk menguji tingkat signifikansi abnormal return adalah paired sample t-test. Hasil penelitian menunjukkan bahwa (1) Terdapat perbedaan abnormal return sebelum dan setelah peristiwa pengumuman hasil penghitungan suara pemilihan umum Presiden Amerika Serikat dan (2)Terdapat perbedaan abnormal return sebelum dan setelah peristiwa pelantikan Presiden Amerika Serikat.
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